Potato market in Latvia

Earlier Report Observations

The potato market in Latvia experienced significant volume fluctuations between 2018 and 2023. After reaching a peak of 235.1 thousand tons in 2019, the market contracted sharply to 127.4 thousand tons in 2021, before recovering to 167.0 thousand tons by 2023.

The market downturn in 2020 and 2021 was primarily driven by the COVID-19 pandemic, which disrupted supply and demand, coupled with rising production costs for energy and labor that led to a sharp increase in potato prices. This price surge, including a 60.1% rise in 2021, reduced consumer demand and market volume. The rebound from 2022 onward was supported by the entry of new retail chains like LIDL and SPAR, which increased competition and market access. A seasonal price decline of approximately 11.8% in 2022 further stimulated consumption, aiding the recovery in production and market size.

Production potato in Latvia

In kind, 2018-2021, K t

Top producers of potato, 2018-2021

World map of production of potato, 2018-2021

Latvia's potato production has declined for the second year in a row. In 2021, the country produced 115.1 thousand tons of potatoes, marking a sharp 36.4% decrease compared to 2020. Looking at the period from 2018 to 2021, production fell by 41.3%, which translates to an average annual decline of 16.3%. The highest production level was recorded in 2019 at 223.7 thousand tons, with the largest year-on-year increase of 14.0% also occurring that year.

Annual dynamics of production in Latvia in kind, 2018-2021, K t

In value, 2018-2021, K $ US

Potato production in Latvia has decreased for the second consecutive year. In 2021, the output was valued at 21 920 thousand US dollars, representing a significant 45.2% drop from the previous year. From 2018 to 2021, production value declined by 60.5%, averaging a 26.6% annual decrease. The peak value was reached in 2019 at 68 545 thousand US dollars, which also saw the largest increase of 23.5%.

Annual dynamics of production in Latvia in value, 2018-2021, K $ US

Exports potato from Latvia

Exports in kind, t

Latvia's potato export volume has grown for the third year running. In 2021, exports reached 24 119 tons, showing a substantial 49.0% increase over the previous year. Between 2018 and 2021, exports surged by 244.7%, with an average annual growth rate of 51.1%.

Annual dynamics of product's exports from Latvia in kind, 2018-2021, t

From 2018 to 2021, Poland, Ukraine, and Lithuania were the leading destinations for Latvia's potato exports in volume terms. Poland accounted for 28.1% of exports, Ukraine for 27.3%, and Lithuania for 21.5%. Together, these three countries represented 76.9% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Latvia in kind, 2018-2021

Exports in value, K $ US

The market showed an unstable trend during this period. From 2018 to 2019, there was a peak-to-trough amplitude of 2.4 times. In 2021, potato shipments from Latvia abroad amounted to 4 593 thousand US dollars, reflecting a sharp 28.4% year-on-year increase. The highest value was recorded in 2019 at 4 781 thousand US dollars, which also saw the largest increase of 141.6%. The largest decline occurred in 2020, with a drop of 25.2%.

Annual dynamics of product's exports from Latvia in value, 2018-2021, K $ US

Throughout 2018 to 2021, Estonia, Lithuania, and Poland formed the core of Latvia's potato exports in value terms. Estonia accounted for 30.0% of exports, Lithuania for 28.7%, and Poland for 22.4%. Collectively, these three countries made up 81.1% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Latvia in value, 2018-2021

Imports potato to Latvia

Imports in kind, t

In 2021, Latvia's potato import volume amounted to 36 409 tons, up by 60.3% compared to the previous year. Between 2018 and 2021, imports increased by 101.6%, with an average annual growth rate of 26.3%. The largest decline was recorded in 2020, with a decrease of 15.9%.

Annual dynamics of product's imports to Latvia in kind, 2018-2021, t

From 2018 to 2021, Lithuania, Estonia, and Sweden were the main sources for Latvia's potato imports in volume terms. Lithuania accounted for 29.2% of imports, Estonia for 20.6%, and Sweden for 14.1%. Together, these three countries represented 63.9% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Latvia in kind, 2018-2021

Imports in value, K $ US

There were noticeable fluctuations in market performance during this period. Import volumes hit a low in 2018 and peaked in 2021, with a top-to-bottom ratio of 2 times. In 2021, Latvia's potato import volume came to 10 501 thousand US dollars, marking a steep 55.0% year-over-year rise. The largest decline was recorded in 2020, with a drop of 27.9%, while the largest increase occurred in 2019, with a rise of 77.5%.

Annual dynamics of product's imports to Latvia in value, 2018-2021, K $ US

From 2018 to 2021, Lithuania, Estonia, and Sweden consistently remained the primary sources for Latvia's potato imports in value terms. Lithuania accounted for 22.7% of imports, Estonia for 19.8%, and Sweden for 17.3%. Together, these three countries accounted for 59.8% of total import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Latvia in value, 2018-2021